|Posted:||March 8, 2018 01:30 PM|
|From:||Representative Maria P. Donatucci|
|To:||All House members|
|Subject:||Small Business Incubator Program|
|In the near future, I plan to introduce legislation that would recapitalize and amend the 1984 Small Business Incubator Program to support the development of small businesses in an environment of shared costs and services critical to entrepreneurial success.
Small businesses are a growth engine of jobs in our economy. Startup and overhead costs and limited capital access have created a demand and opportunity for Pennsylvania to reengage support for the development and operation of small business incubators, accelerators and co-working/co-living facilities. Following its initial funding allocation in 1984, the Small Business Incubators program became dormant as funding disappeared. Incubators, accelerators and co-working/co-living facilities provide a low-cost environment to share services, staffing, marketing, financial consulting and physical space. Supporting small business growth will lead to job creation and innovation.
This legislation would be revenue neutral as it would transfer $20 million in bonding authority from the Tax Increment Financing Guarantee Program (through the Commonwealth Finance Agency) to the program.
Please join me in sponsoring this legislation.
Introduced as HB2273